Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 09/23/14 Update CLX ($97.23, Sell; $77.00 PT): We Think a Take-Out is Highly Unlikely—Downgrading to Sell
  • 09/23/14 Update XCRA ($10.17, Buy; $13.25 PT): Adjusting Estimates For Recently Completed Secondary Offering
  • 09/23/14 Morning Note B. Riley & Co. Morning Notes: AAPL, ATNY, CLX, DCO, IEC, XCRA; Semi. Cap. Equipment (BRKS, KLAC, LRCX, MTSN)
  • 09/22/14 Update OUTR ($58.49, Sell; $47.00 PT): Promotional Activity and a Delayed Studio Content Agreement Renewal Increases Margin Risks; Downgrading to Sell with…
  • 09/22/14 Morning Note B. Riley & Co. Morning Notes: ABTL, EXAR, OUTR, SABA; Consumer Products Weekly (CLX, COTY, EL, JAKK, KMB, OR-Paris, PG, SBH, TGT, ULTA, WMT)
  • 09/22/14 Update Household/Personal Care: Weekly Highlights (CLX, COTY, EL, JAKK, KMB, OR-Paris, PG, SBH, TGT, ULTA, WMT)
  • 09/22/14 Update EXAR ($9.43, Buy; $13.00 PT): Investor Meetings Focus On Strategy Following iML Deal Close; PT $13.0
  • 09/22/14 Update ABTL ($8.71, Buy; $19.00 PT): Valuation Disparity with TRUE is Glaring; Preannouncement and Share Buyback Give Confidence
  • 09/22/14 Update SABA ($14.08, Neutral; $14.00 PT): Downgrading to Neutral Rating on Valuation
  • 09/19/14 Update TXN ($48.98, Buy; $56.00 PT): 13% Divi Boost Shows Model Tracking Well; Buy For Upside To $56.0 PT
  • 09/19/14 Update MCS ($17.20, Buy; $21.00 PT): Reports Mixed Q1 Results; Look Past Weak Summer Box Office as Marcus Positions for Stronger CY15 Slate and Hotel Monetization…
  • 09/19/14 Update COTY ($17.70, Sell; $14.00 PT): Not a Beauty Here—Downgrading from Neutral to Sell
  • 09/19/14 Morning Note B. Riley & Co. Morning Notes: AMC, CLX, COTY, EMKR, FINL, KTOS, MCS, OUTR, TXN
  • 09/18/14 Update STMP ($31.41, Neutral; $33.75 PT): Raising Estimates Following Further Analysis of Historical ShipStation Financials; Increasing Price Target Slightly;…
  • 09/18/14 Update TIVO ($13.48, Buy; $20.00 PT): Refinances Converts with More Attractive Terms; Balance Sheet Flexibility Allows for Dual Approach to Boost Shareholder…
  • 09/18/14 Initiation of Coverage VNCE ($33.26, Buy; $44.00 PT): Evolving into a comprehensive lifestyle brand, positioned for sustainable long-term growth; initiating coverage with…
  • 09/18/14 Update IVAC ($6.83, Neutral; $7.25 PT): Timing Of HDD Capacity Expansion Remains Uncertain; Maintain Neutral
  • 09/18/14 Update PCOM ($17.32, Buy; $36.00 PT): Stock Oversold; Expectations are Low and Optionality is High; Investors should Focus on FCF, which is 2x of EBITDA
  • 09/18/14 Update EMKR ($4.29, Buy; $10.00 PT): To Sell PV Asset for $150MM; CEO Hong to Step Down; Raising PT from $6.50 to $10.00; Reiterate Buy
  • 09/18/14 Update Industry Update - Semiconductor And Cap Equipment: Checking Inventory As 3Q14 Concludes
  • 09/18/14 Morning Note B. Riley & Co. Morning Notes: AAPL, AKAM, AXTI, DLB, EMKR, IVAC, PCOM, STMP, TIVO, VNCE; Semiconductors & Semi. Cap. Equipment (AOSL, ADI, EXAR, ISSI,…
  • 09/17/14 Morning Note B. Riley & Co. Morning Notes: CALD, DORM, EXAR, IDSY, IMMR, JAKK, SNDK
  • 09/17/14 Update IDSY ($5.67, Buy; $9.00 PT): Revitalized MRM and Data Analytics Play Breaking into Profitability; Initiating Coverage on IDSY with Buy and $9.00 PT
  • 09/16/14 Update DORM ($42.24, Sell; $32.50 PT): Channel Checks Point to Elevated Channel Inventory and Rising Returns Resulting From Products Shipped to WDs Without…